Bitcoin Comes Home for the Holidays [Details]

Posted On November 23, 2018 12:19 pm

money stocks, hundred dollar bills

Source: Shutterstock.com/g/mnemosyne

Everyone was worried about how politics might ruin the Thanksgiving meal this year.  But it was the Bitcoin bubble coming home to roost that created caustic misgivings.

There used to be a saying “don’t trust anyone under 30.”  I’m sure this was flipped on its head around the Thanksgiving table as Aunts, Uncles, and grandparents railed against their sparkly-eyed younger relatives who had managed to convince them to buy into Bitcoin a year ago today.

In the days following last year’s Thanksgiving dinner, Coinbase, the lead U.S. based crypto-exchange saw a four-fold surge in the account openings — adding over 300,000 accounts.

The buying frenzy was on. By Monday morning, the price of BTC had surged by 25% to near $10,000.  And it was just getting going. It quickly surged another 60% before a brief dip prior to Christmas.  Hurry grandma, this a… Continue Reading at StockNews.com

About author

Steve Smith

Steve Smith have been involved in all facets of the investment industry in a variety of roles ranging from speculator, educator, manager and advisor. This has taken him from the trading floors of Chicago to hedge funds on Wall Street to the world online. From 1987 to 1996, he served as a market maker at the Chicago Board of Options Exchange (CBOE) and Chicago Board of Trade (CBOT). From 1997 to 2007, he was a Senior Columnist and Managing Editor for TheStreet.com, handling their Option Alert and Short Report newsletters. The Option Alert was awarded the MIN “best business newsletter” in 2006. From 2009 to 2013, Smith was a Senior Columnist and Managing Editor for Minyanville’s OptionSmith newsletter, as well as a Risk Manager Consultant for New Vernon Capital LLC. Smith acted as an advisor to build models and option strategies to reduce portfolio exposure and enhance returns for the four main funds. Since 2015, he has worked for Adam Mesh Trading Group. There, he has managed Options360 and Earning 360, been co-leader of Option Academy, and contributed to The Option Specialist website.